Veeco price target lowered to $40 from $45 at Oppenheimer

Oppenheimer analyst Rick Schafer lowered the firm’s price target on Veeco (VECO) to $40 from $45 and keeps an Outperform rating on the shares. The firm notes Veeco reported in-line Q3/Q4 results/outlook Wednesday. Management narrowed the full year 2024 topline to $700M-$720M from $690M-$730M, Oppenheimer notes.